Templeton Plans Four Debt Funds

The Templeton group is seeking to register four of its pure debt funds which make up collectively for a size of about $ 2 billion, under the 100 per cent debt fund option. The leading foreign institutional investor (FII) has applied to the Foreign Investment Promotion Broad (FIPB).

The four funds which are seeking approval are Templeton Global Income Fund, Templeton Global Government Income Trust, Templeton Emerging Markets Income Fund and Templeton Global Strategy Sicav. While the first two funds invest in all markets, the latter two invest purely in emerging markets.

Douglas Lempereur, director, Corporate development, Templeton Worldwide, speaking at the launch of Templeton India Income Fund, the domestic debt fund of Templeton Asset Management, said that the exact size of the funds that they would invest was being worked out.

The India Income Fund which is an open-ended fund would remain open for subscription till March 1, 1997. The scheme offers a dividend regular income plan and a growth capital appreciation plan. The investors subscribing during the initial offering period of the fund would not have to bear any sales load.